Committee Representation
The Firm has a long and successful history in the representation of official committees appointed in bankruptcy cases. Beginning with the Osage Crude Oil Purchasing, Inc. case in 1985, the Firm has obtained confirmation of Committee Plans for the benefit of creditors in a number of Chapter 11 Cases. The Osage Crude case recovered nearly 100 cents on the dollar for Creditor Claims. Recovery in this case resulted largely from successful litigation by the Firm against one of the state's major banking institutions on a preference/fraudulent transfer theory resulting in a multi-million dollar recovery. Other representative matters in which the Firm successfully represented Creditors Committees include:
- Official Committees in the Sheffield Steel case, a steel mini-mill
- J.P. EMCO case
- Camrose Technologies, L.L.C. bankruptcy case
- Faculty Committee in the Phillips University bankruptcy case
- Official Committee as co-counsel in the Hale-Halsell Company case
- Harrison House Publishing bankruptcy case
Both J.P. EMCO and Camrose occurred in the Western District of Oklahoma, involving Tier I automotive suppliers. Under the Firm's leadership, the Creditors Committee prepared and confirmed Plans of Reorganization in both cases. The Hale-Halsell Company involved a large wholesale grocery distribution network, in which the Committee filed and confirmed a Plan of Liquidation creating a Creditors Trust, and provided for a substantial distribution to creditors, which at present has distributed a 72 cent dividend to unsecured creditors. The Committee, led by the Firm's attorneys, successfully undertook litigation against Officers and Directors of the Company in the Hale-Halsell case, achieving a substantial settlement, and was active in the effective disposition of other assets in the case.
Representation of a Creditors Committee requires a solid general business knowledge, understanding of the United States Bankruptcy Code and its various powers and provisions, and strong litigation skills. The Firm's representation of Official Committees represents an experience and record of success unmatched by any other law firms in the state.
